XRP Bulls Anticipating a Potential Breakout to 0.7 to 0.9
XRP bulls are accumulating and signaling a potential breakout. Buyers have been consistently trying to breach the 0.5 resistance level, indicating a higher likelihood of it being broken soon.
This accumulation is suggested by MT Pandora's Box. The bulls are now gearing up to surpass the 0.56 resistance range. If they succeed, the next targets could be 0.69 and potentially even 0.91, depending on the strength of these buyers. Presently, they are rebounding from the weekly support level at $0.45.
Notice: This post will be regularly updated as the price progresses toward the target or in the event of potential failures due to rejections. We encourage readers to like, comment, and follow this page to stay updated with the latest developments and adjustments. Your engagement and support are greatly appreciated.
Free BTC Long Trade Signal:
To enter, wait for a pullback to take the trade.
(Spot and Futures Trade Scalping Bull )
ASSET:
XRP
(XRP/USDT)
???? ACTION: LONG ???? 1st ENTRY PRICE: $0.490, 2nd Entry ; 0.506, 3rd Entry ;0.5075
(Buy Incrementally)
???? STOP LOSS: $0.444(Risky Stop $0.47
???? 1st TAKE PROFIT: $0.56
2nd TP: $0.69 3rd TP: $0.8137(Extended $0.91)
This accumulation is suggested by MT Pandora's Box. The bulls are now gearing up to surpass the 0.56 resistance range. If they succeed, the next targets could be 0.69 and potentially even 0.91, depending on the strength of these buyers. Presently, they are rebounding from the weekly support level at $0.45.
Notice: This post will be regularly updated as the price progresses toward the target or in the event of potential failures due to rejections. We encourage readers to like, comment, and follow this page to stay updated with the latest developments and adjustments. Your engagement and support are greatly appreciated.
Free BTC Long Trade Signal:
To enter, wait for a pullback to take the trade.
(Spot and Futures Trade Scalping Bull )
ASSET:
XRP
(XRP/USDT) ???? ACTION: LONG ???? 1st ENTRY PRICE: $0.490, 2nd Entry ; 0.506, 3rd Entry ;0.5075
(Buy Incrementally)
???? STOP LOSS: $0.444(Risky Stop $0.47
???? 1st TAKE PROFIT: $0.56
2nd TP: $0.69 3rd TP: $0.8137(Extended $0.91)
Comment:
🚫Update on our active Longs: XRP Bulls have struggled to move while the current BTC mini pullback is likely to impact altcoins. However, We will observe how the market reacts to the 0.46 support level. During this mini pullback, altcoins like XRP, could breach the risky stoploss we stated at 0.47 support to hit 0.46 but the 0.44 is our last resort or we close all xrp until further price action
Trade active:
XRP after making it down to 0.449 bounced barely escaping our stop loss at 0.44. this is the last chance for the bulls to bounce to 0.56. Our Long stays active
Comment:
XRP buyers remain very bullish while having been repeatedly attempting to breach the 0.5 resistance level and now barely getting rejected at 0.496, we see the pressure on this resistance growing each day, the longer the bulls accumulate below it, the more chances of a higher move, leaving a higher chance of it breaking soon, This suggests accumulation taking place, as indicated by MT Pandora's Box. The bulls are now preparing to overcome the 0.56 resistance range. If successful, the subsequent target still remains at 0.69, and potentially even 0.91 could be achieved, depending on the strength exhibited by these buyers. Currently, they are rebounding from the weekly support level of $0.45.
Comment:
Analyzing XRP: Potential Challenges Ahead and Cautious Trading Approach"
Upon reviewing this situation, I couldn't help but wonder how to navigate it effectively. As a technical analyst, it's crucial for me to honestly communicate what I observe, no matter how unpleasant. Currently, the outlook for XRP is not promising if it fails to hold above 0.45. The longer the bulls struggle below 0.5, the lower their chances drop from 65% to 45% of breaking 0.56. June's monthly candle closed negatively for the bulls, further impacting their prospects.
There is still a possibility for the bulls to rally within the range of 0.5 to 0.55, but their strength is diminishing. This indicates that bears might start adding shorts soon, potentially driving the XRP price down to the 0.43 to 0.418 range. Moreover, a concerning M pattern on the daily chart could lead to a catastrophic fall within the 0.38 to 0.35 range.
Considering the information presented, what is our plan after buying XRP above 0.49? We aim to minimize losses by promptly exiting if the price drops below 0.45. We will significantly reduce our long position and switch to short trades, targeting the completion of the M pattern. In the event of pattern failure, we anticipate rejection around the 0.419 to 0.4 range.
This warning serves as a reminder to exercise caution regarding the current long position on XRP.
Upon reviewing this situation, I couldn't help but wonder how to navigate it effectively. As a technical analyst, it's crucial for me to honestly communicate what I observe, no matter how unpleasant. Currently, the outlook for XRP is not promising if it fails to hold above 0.45. The longer the bulls struggle below 0.5, the lower their chances drop from 65% to 45% of breaking 0.56. June's monthly candle closed negatively for the bulls, further impacting their prospects.
There is still a possibility for the bulls to rally within the range of 0.5 to 0.55, but their strength is diminishing. This indicates that bears might start adding shorts soon, potentially driving the XRP price down to the 0.43 to 0.418 range. Moreover, a concerning M pattern on the daily chart could lead to a catastrophic fall within the 0.38 to 0.35 range.
Considering the information presented, what is our plan after buying XRP above 0.49? We aim to minimize losses by promptly exiting if the price drops below 0.45. We will significantly reduce our long position and switch to short trades, targeting the completion of the M pattern. In the event of pattern failure, we anticipate rejection around the 0.419 to 0.4 range.
This warning serves as a reminder to exercise caution regarding the current long position on XRP.
Comment:
Comment:
XRP successfully reached our target of 0.93, and we congratulate all those who supported us throughout this challenging journey. Despite the initial difficulties and almost being kicked out, we managed to stay resilient and proud. While there is a possibility that XRP may reach 1.1, we choose not to be greedy. Consequently, we will be closing 75% of our XRP holdings and adjusting our stop to 0.56. If the price continues to rise beyond this point, we will exit the market without any losses.
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